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Like Rio Tokyo faces Olympic challenges too

Monday, August 22, 2016 - 01:51

Brazil has pulled off a successful Olympic Games despite suffering a lack of funding, deep recession and social turmoil. Can troubled Japan do the same in four years time? Laura Frykberg finds out.

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The skies light up over Rio. Symbolising the end of a successful games. Staged despite a funding shortfall, social turmoil and deep recession. Brazil appears to have pulled it off. But will it help its ailing economy? At a cost of 4.6 billion dollars and rising, no, warn analysts. (SOUNDBITE) (English) INDEPENDENT MARKET ANALYST, JEREMY BATSTONE-CARR SAYING: "I think it is going to be a while before Brazil gets back on its feet. The currency has collapsed, inflation has sky rocketed, activity is very depressed. The Olympic Games were awarded to Brazil at a time when the commodity sector was flying high, now of course commodities are depressed." And that, raises questions about the next games. Tokyo 2020 is touted to be a high-tech, digital extravaganza. As Japan's Prime Minister has demonstrated. But with stalled growth, amid falling exports and weak corporate investment. It too, economically, could suffer. (SOUNDBITE) (English) INDEPENDENT MARKET ANALYST, JEREMY BATSTONE-CARR SAYING: "Japan will probably make a pretty good fist of the Olympics it has to be said, but it will cost the country and Japan of course is no stranger to managing a mountainous degree of debt. So yes I suspect the games will be a success, but I am afraid from an economic perspective they don't really stack up anymore." It could be a tough ride for competitors at the upcoming Rio Paralympics. Organisers haven't been given public money they were promised, and only twelve percent of tickets have been sold. It means venues have already closed, and staff numbers reduced. Brazil won't want that overshadowing its Olympic legacy, but it might not have a choice.

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Like Rio Tokyo faces Olympic challenges too

Monday, August 22, 2016 - 01:51